According to central bank governor P. Nandalal Weerasinghe, the island nation is threatened by running out of fuel and extensive power outages.
The Sri Lankan state’s economic crisis has driven the country into a state where the army is patrolling the streets of the capital, Colombo, and the former prime minister Mahinda Rajapaksa has been transferred to security at the naval base. The situation is so chaotic that on Wednesday the head of the central bank P. Nandalal Weerasinghe threatened to resign unless the political situation was calmed down.
There has been widespread opinion in Sri Lanka for more than a month, with prices rising by 30% in the first half of the year. Earlier in the week, the army and police were ordered to shoot down protesters who were tarnishing public property or threatening their lives.
So far, at least nine people have died in the violence and more than 200 have been injured.
– I have clearly informed the President and the leaders of the other parties that if the political situation is not stabilized within two weeks, I will resign, Weerasinghe says.
He took office last month.
– Unless stability is restored, it does not matter who runs the central bank. There is no way to prevent the economy from deteriorating.
According to Weerasinghe, non-existent foreign trade could lead to a shortage of fuel and power outages of up to 12 hours. He believes this will only exacerbate the situation between the protesters and the police and army.
Opposition protests against brother-in-law leading the island nation: former Prime Minister Rajapaksa and his brother, President Gotabaya Rajapaksaan.
According to the Minister of Defense, Prime Minister Rajapaksa will be at the naval base for at least a few days.
– Once the situation has returned to normal, he can move to the place he wants, the Minister of Defense Kamal Gunaratne says.
The opposition is seeking to oust President Rajapaksa. The prime minister resigned to alleviate the situation on Monday.